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Novartis CEO Daniel Vasella

Updated Jan. 28, 2009 5:35 p.m. ET

This is an email excerpt from Mr. Vasella:

Choosing between strategy and execution is a ridiculous debate. What does it help to know the right direction when you remain immobile or move down another path (weak implementation) and, on the other hand, what does it help to run, if you run in the wrong direction (weak strategy). Obviously, one needs to determine first objectives, and then the way to get there (direction), to align people and to get a commitment, so they move towards a shared goal. Strategy is generally strong...